Industrial conglomerate Honeywell (NASDAQ: HON) will be announcing earnings results this Thursday before market open. Here’s what to expect.
Honeywell beat analysts’ revenue expectations by 2.8% last quarter, reporting revenues of $10.35 billion, up 8.1% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ EBITDA estimates and an impressive beat of analysts’ organic revenue estimates.
Is Honeywell a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Honeywell’s revenue to grow 4.3% year on year to $10.15 billion, slowing from the 5.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.57 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Honeywell has missed Wall Street’s revenue estimates three times over the last two years.
Looking at Honeywell’s peers in the industrial machinery segment, some have already reported their Q3 results, giving us a hint as to what we can expect. GE Aerospace delivered year-on-year revenue growth of 36.2%, beating analysts’ expectations by 11.7%, and 3M reported flat revenue, topping estimates by 1%.
Read our full analysis of GE Aerospace’s results here and 3M’s results here.
Investors in the industrial machinery segment have had steady hands going into earnings, with share prices up 1.8% on average over the last month. Honeywell’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $249.40 (compared to the current share price of $209.27).
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